Last Updated: 11/11/2008
Q. What trading platform
does the DME use?
A. It is planned that the DME will migrate the DME Oman
Crude Oil Futures and the DME Oman Crude Oil Financial
Contracts to CME Globex in Q1 2009. Please click
here for
the announcement.
At present, however, the DME uses the DME Direct™
platform which is based on NYMEX technology. To access
DME Direct™ a user must either write directly to the
match engine that is located in
New York, or establish a
relationship with an Independent Software Vendor (ISV)
that has a certified connection to the DME API. For a
list of DME-Certified ISV’s please see
here.
Q. Who can I contact to get
access to certification?
A. Market participants should contact NYMEX Third Party
Services at +1-800-275-6215 or via e-mail at
thirdpartyservices@nymex.com.
Q. Who can access the
trading platform?
A. Members and Non Members (Guaranteed Customers) can
both access the trading platform directly.
Q. Is trading blind or
disclosed?
A. Bids and offers and transactions conducted on DME
Direct™ are anonymous.
Q. If trading is blind or
structured as anonymous, does the Exchange or Clearing
House ever disclose to customers the identity of the
entity with whom they are matched? If so, when?
A. The Clearing House will inform Clearing
Members of longs and shorts that have been matched for
physical delivery after the contract has expired.
Q. What types of orders
does DME Direct™ offer?
A. The trading platform offers the following types of
orders.
Limit Order - A limit order is an order
to buy or sell a contract at a specific price. A buy
limit order can only be executed at the limit price or
lower, and a sell limit order can only be executed at
the limit price or higher.
Stop Limit Order*
- An "inactive" order which is "triggered" by a trade in
relation to the trigger (or sometimes referred to as the
"stop") price designated on the order. Stop-Limits
become eligible for execution as a limit order when (a)
in the case of a Buy Stop-Limit Order a trade that
constitutes price discovery in the contract occurs at or
above the Stop price, or (b) in the case of a Sell
Stop-Limit Order, at or below the Stop price.
*Stop Limits are not offered for
Strips
Q. What order durations does DME Direct™ offer?
A. The trading platform offers the following order
durations
Day Order - A Day Order is an order to
buy or sell a contract that is entered during a trading
session for that session only.
GTC (Good till Canceled)*
- A GTC order is an order to buy or sell
a contract at a price that remains in effect until the
order is fully executed, cancelled or the contract has
expired.
GTD (Good till Date)*
- A GTD order allows the user to set the trading date
(up to and including) the order should remain in the
system if not fully executed, canceled or the contract
expires.
*GTC and GTD orders are accepted
for outright and strip orders only (not calendar
spreads).
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